Sumitomo Life Insurance Co. Takes Position in Corteva, Inc. $CTVA

Key Points

• Sumitomo Life Insurance acquired 26,800 Corteva shares in the second quarter, valued at approximately $2.27 million. Institutional investors collectively own 81.54% of the company.
• Analysts maintain a generally positive view, with 14 Buy ratings and nine Holds, producing a “Moderate Buy” consensus and an average price target of $91.50.
• Corteva beat quarterly EPS expectations, reporting $2.30 versus the $2.24 consensus, though revenue declined 1.2% year over year to $6.38 billion. The company also declared a quarterly dividend of $0.18 per share.

Sumitomo Life Insurance Co. acquired a new stake in Corteva, Inc. (NYSE:CTVA - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 26,800 shares of the company's stock, valued at approximately $2,269,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CTVA. Arbejdsmarkedets Tillaegspension purchased a new stake in shares of Corteva during the fourth quarter worth approximately $23,679,000. Leonteq Securities AG acquired a new stake in Corteva in the fourth quarter valued at approximately $2,350,000. Brandes Investment Partners LP lifted its stake in Corteva by 1.1% in the fourth quarter. Brandes Investment Partners LP now owns 2,312,515 shares of the company's stock worth $155,009,000 after acquiring an additional 24,985 shares during the last quarter. Twin Capital Management Inc. grew its holdings in Corteva by 178.9% during the 4th quarter. Twin Capital Management Inc. now owns 25,394 shares of the company's stock worth $1,702,000 after acquiring an additional 16,288 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in Corteva during the 2nd quarter worth approximately $392,447,000. Hedge funds and other institutional investors own 81.54% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CTVA shares. BNP Paribas Exane raised their price objective on shares of Corteva from $74.00 to $77.00 in a report on Wednesday, May 6th. Rothschild & Co Redburn boosted their target price on shares of Corteva from $80.00 to $90.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 29th. Mizuho increased their target price on Corteva from $96.00 to $97.00 and gave the company an "outperform" rating in a report on Tuesday, July 14th. Royal Bank Of Canada increased their target price on Corteva from $97.00 to $103.00 and gave the company an "outperform" rating in a report on Tuesday, July 21st. Finally, UBS Group cut their price target on Corteva from $89.00 to $85.00 and set a "neutral" rating on the stock in a research note on Tuesday. Fourteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $91.50.

Corteva Trading Up 3.0%

NYSE CTVA opened at $81.84 on Friday. The firm's fifty day moving average price is $82.13 and its 200 day moving average price is $80.21. Corteva, Inc. has a 12 month low of $60.53 and a 12 month high of $90.97. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.52 and a quick ratio of 1.10. The company has a market capitalization of $54.60 billion, a price-to-earnings ratio of 54.20, a price-to-earnings-growth ratio of 2.44 and a beta of 0.57.

Corteva (NYSE:CTVA - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported $2.30 earnings per share for the quarter, beating analysts' consensus estimates of $2.24 by $0.06. The firm had revenue of $6.38 billion during the quarter, compared to analysts' expectations of $6.60 billion. Corteva had a net margin of 5.66% and a return on equity of 10.18%. Corteva's quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the previous year, the company earned $2.20 earnings per share. Corteva has set its FY 2026 guidance at 3.600-3.800 EPS. On average, sell-side analysts expect that Corteva, Inc. will post 3.72 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.9%. Corteva's dividend payout ratio is 47.68%.

Corteva Profile

Corteva, Inc NYSE: CTVA is an independent global agriculture company that was established as a publicly traded firm in mid‑2019 following the separation of the agriculture businesses from DowDuPont. The company focuses on delivering technologies and products that help farmers increase productivity and manage crop health. Corteva's operations combine seed genetics, crop protection chemistries, digital tools and biological solutions to address the full cycle of crop production.

Core business activities include research and development of seed genetics and trait technologies, formulation and sale of crop protection products (such as herbicides, insecticides and fungicides), and the development of seed treatments and biologicals.

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